Akanda Corp. (NASDAQ:AKAN) Sees Large Growth in Short Interest

Akanda Corp. (NASDAQ:AKAN) saw a large growth in short interest in the month of October. As of October 30th, there was short interest totaling 193,393 shares, a growth of 269.9% from the October 15th total of 52,279 shares. Currently, 44.9% of the shares of the stock are sold short. Based on an average trading volume of 609,501 shares, the short-interest ratio is presently 0.3 days.

Akanda Trading Down 2.2%

Shares of Akanda stock traded down $0.02 during trading hours on Thursday, reaching $0.72. 43,049 shares of the company’s stock were exchanged, compared to its average volume of 1,182,817. The company has a 50 day moving average of $1.99 and a two-hundred day moving average of $7.72. Akanda has a fifty-two week low of $0.67 and a fifty-two week high of $78.90.

Akanda (NASDAQ:AKAN) last posted its quarterly earnings results on Wednesday, September 30th. The company reported ($5.90) earnings per share (EPS) for the quarter. The business had revenue of $0.20 million for the quarter.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded Akanda from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Akanda in a research report on Wednesday. One research analyst has rated the stock with a Sell rating. According to MarketBeat, Akanda has a consensus rating of “Sell”.

Akanda Company Profile

Akanda Corporation is an international medical cannabis company focused on the cultivation, processing, distribution and sale of cannabis-based products. Its activities have included supplying medical cannabis flower, oils and other related products to patients, pharmacies, clinics and healthcare providers through regulated markets. The company has historically operated through businesses including Holigen, which was associated with cannabis cultivation and processing in Portugal, and CanMart, a United Kingdom-based importer and distributor of medical cannabis products.